No change expected in SOCAR's plan to purchase participation shares in DESFA

No change expected in SOCAR's plan to purchase participation shares in DESFA

14 September, 2015 14:05

Baku. 14 September. REPORT.AZ/ State Oil Company of Azerbaijan Republic (SOCAR) does not intend to change the amount of its equity participation (66%) due to the acquisition of shares in operator of gas distribution network in Greece DESFA. Report informs, the president of SOCAR Rovnag Abdullayev told that journalists.

"In September, Greece will hold elections. After the elections, we will continue negotiations on the acquisition of shares of DESFA with new government. Therefore, negotiations are frozen until December, "- said the head of SOCAR.

In 2013, SOCAR won international tender for the sale of 66% shares of DESFA for 400 mln euros. However, European Commission expressed concern about the agreement and launched an investigation.

The Greek government based on the principle of non-monopoly, offers to sell 17% DESFA shares to a third party.

If you find out orphographic mistake in the text, please select mistaken part of the text and press Ctrl + Enter.